DGCX and DCCC receive regulatory recognition from ADGM

First Published 24th July 2017

Gaurang Desai, DGCX

Dubai - The Dubai Gold
and Commodities Exchange (DGCX) and its CCP subsidiary, Dubai
Commodities Clearing Corporation (DCCC) has been recognised as a
remote Exchange and Clearing House by the Financial Services
Regulatory Authority (FSRA), the regulatory authority for the Abu
Dhabi Global Market (ADGM), enabling ADGM companies to access its
trading and clearing platforms.

The recognition status takes effect immediately
and enables financial institutions domiciled in the ADGM and
licensed by the FSRA to become members of the DGCX and clear
through its Clearing House, DCCC.

At present, Aarna Capital Limited, an ADGM domiciled brokerage
house, is being on-boarded as the first member of DGCX and DCCC
under the new status.

Gaurang Desai, Chief Executive Officer of the
DGCX, commenting on the certification, said: "We are delighted
about being the first Exchange and Clearing House to be granted
remote recognition status by FSRA. The FSRA accreditation will
enable us to offer the full range of our listed derivatives
products in all asset classes to the burgeoning ADGM community.
This recognition will support us in expanding our membership base
and further bolsters our liquidity pool while bringing in more
diverse participants to the DGCX marketplace. We also welcome
Aarna Capital Limited to the DGCX family and look forward to
extending our network of regional and global partnerships through
institutions based within the ADGM."